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WOODFIN — The Lofts at Reynolds Village, a mixed-use apartment and commercial complex in Woodfin, recently was acquired by a Texas-based real estate investment chain for $36.6 million.

The 201-unit luxury apartment complex with 60,000-square feet of commercial space was sold by The Lofts at Reynolds Village LLC, an investment group led by Kirk Boone. It was purchased by Transcontinental Realty Investors, Southern Properties Capital and Abode Properties, a chain which used the name LARV TCI LLC, a North Carolina Special Warranty Deed filed last week shows

Boone, who has been involved with Reynolds Village and Reynolds Mountain developments since about 2000, said his investment group determined it was the right time to sell.

"I have mixed feelings about selling because it has been a great project and a wonderful property to hold and it just so happens with our group, it seemed the best idea was to sell," he said. "It's a wonderful community. Not only The Lofts but the other developments around Reynolds Mountain — The Crossings, AVL Technologies.

"It's all come together really nicely but it felt like it was time to move on to other things."

Transcontinental Realty Investors did not immediately return a call for comment.

Among the areas highlighted are Asheville's job market, its performing arts culture, its overall dining scene as well as Western North Carolina's outdoor recreation options.

"We are always searching for exciting markets in which to expand," Kyles said. "All of the above mentioned strengths of the Asheville market and the opportunity to acquire such a fantastic asset fall perfectly in line with our strategy to add assets in select markets with the strongest growth potential."

Boone told the Citizen-Times in 2015 at least four parties, all outside of North Carolina, had shown interest within the previous year in purchasing the Reynolds Village development. The offers were not publicly disclosed at the time.